City Council OKs Selling Humboldt Park Lots for $1 for Affordable Homes

Six city-owned lots, such as this one at 1756 N. Drake Ave., will be sold to a developer for $1 apiece, under a measure approved by the City Council Wednesday. The single-family homes built on them will each be sold for $199,000.
View Full Caption

DNAinfo/Victoria Johnson

HUMBOLDT PARK — The City Council on Wednesday approved selling six empty Humboldt Park lots to a developer for $1 apiece so affordable homes could be built on them.

According to a release from the Mayor's Press Office, the city-owned lots — collectively appraised at $316,000 — will be sold to L&MC Investments LLC, which will build homes on them to sell at $199,000 each.

Each two-story, 1,840-square-foot home will have three bedrooms and 2½ baths, and be available to households earning up to 120 percent of area median income, or $88,300 for a family of four, the release said.

The lots are at:

• 1122 and 1144 N. Christiana Ave.

• 1222 N Rockwell St.

• 1226 N. Campbell Ave.

• 1756 N. Drake Ave.

• 3221 W. Crystal St.

All fall into what is generally considered the Humboldt Park neighborhood, though the two on Rockwell and Campbell are officially in the West Town community area, in a block sometimes called East Humboldt Park.

Similar houses around there have recently sold for $300,000 to $400,000, according to various real estate sites, while houses around the other four lots, have been selling for considerably less — between $130,000 and $160,000.

A spokesman for the city Department of Planning and Development said last month the developer determined the sales price.

A voicemail message left for L&MC Investments seeking comment was not immediately returned.